The International Monetary Fund (IMF) executive board has appointed Ms Kristalina Georgieva as the new IMF Managing Director. She is meant to serve for a five-year term starting October 1st 2019. Ms Kristalina Georgieva succeeds Christine Legarde. She will be the first person from an emerging market economy to lead the IMF since its inception in 1944.
As the Managing Director she will also serve as the Chief of the IMF Operating staff and the Chief of the Executive Board. She will also be assisted by four deputy managing directors in the operation of the fund.
Ms Kristalina Georgieva is a Bulgaria national and has been the Chief Executive Officer of the World Bank since January 2017. She was also the interim president of the World Bank group between 1st February 2019 to April 8th 2019. She served as a commissioner for International Cooperation, Humanitarian Aid and Crisis Response at the European Commission then later she was the Vice President for the Budget and Human Resources at the European Commission.
Ms Kristalina Georgieva holds a Phd in Economic Science, an M.A in Political Economy and Sociology from the University of National and World Economy.